Just one week after reports of Existing Home Sales and New Home Sales plunging, the housing market signaled that the next few months may fare better than did May and June.
The number of home resales plunged by 1.4 million units in July. Home buyers may uncover opportunities for a deal.
How much does a mortgage cost? The answer depends on where you live. But no matter which your locale, chances are strong that you’ll pay more for a mortgage in 2010 as compared to 2009.
After reaching a 3-year high just 90 days ago, the National Association of Homebuilders’ Housing Market Index is now at a multi-year low after falling by almost half.
Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structures.
Foreclosure filings rose 4 percent nationwide last month versus June, according to foreclosure-tracking firm RealtyTrac.com. For the 17th straight month, total filings topped 300,000. 6 states dominated activity levels.
According the Federal Home Finance Agency’s Home Price Index, home values are now just 12.5 percent off their April 2007 peak nationwide. This after a half-percent monthly increase in prices in May,on average.
June’s Pending Home Sales Index is weak by most measures, but if you’re a home buyer, the headlines aren’t so bad. Fewer home sales can push negotiation leverage to the buy-side of a transaction.
The fiscal responsibility of a homeowner extends beyond the mortgage’s basic principal and interest repayments. Homeowners are also responsible for the real estate taxes on the home and its insurance premiums, too.
If your adjustable rate mortgage is due to adjust this year, don’t go rushing to replace it just yet. Your soon-to-adjust mortgage rate may actually go lower this year.